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SkunkMonkey t1_ixmqnbi wrote

Reply to comment by vexpopped in Reuters: Global regulators to target crypto platforms after FTX crash by Globalist2

Has Twitter ever floated? I always assumed it was simply a sinking turd.

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im_super_excited t1_ixn3vn3 wrote

It's more the turd skids on the bowl that don't go away when you flush.

Not floating. Not going away either.

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Estilix t1_ixn9gyw wrote

It'll pool to the bottom and flush quite easily if you just leave it alone for awhile. So will the turd skids.

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ripvannwinkler t1_ixnmwj8 wrote

But the streaks will never go away without a good scrubbing.

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oursland t1_ixnavza wrote

There's been a couple years where their income was greater than their operating expenses, so it's feasible that had it continued it's trajectory it could eventually become a consistently profitable venture. In its current state, that's an extremely unlikely outcome now.

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NorthernerWuwu t1_ixob74r wrote

Sure but that company would be worth a few hundred million if they were lucky. That's not enough so they leveraged the hell out of the idea that they might be worth a few dozen billion if everything went perfectly.

Then Elon showed up and hey, it turns out that things can go perfectly!

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Aazadan t1_ixnytqy wrote

It mostly broke even until Musk bought it. The initial debt the company had to take on increased their annual expenses by quite a bit. Followed by the loss in advertiser revenue which further hurt them.

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SkunkMonkey t1_ixo2qma wrote

So it barely floated, like a turd.

Either way, Twitter is shit.

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Aazadan t1_ixolpih wrote

Shit as an investment? Sure.
Shit in terms of value to the public? Sure.

Shit as a company? I would have to argue no. They were stable, in business for 16 years, had cash on hand to fund current operations for another 10 years, kept people employed, and developed multiple technologies that are now industry standard for web development.

Ignoring their product themselves (which I think is probably neutral, but is far too indepth a discussion for Reddit, regarding the good versus bad it enabled), that's basically what corporations are supposed to philosophically do for society: Employ people and improve the business sector as a whole.

At least for the moment, Musk has disrupted all of that. But, in terms of whether or not that was a good business decision for him, all we can really do is speculate while we wait and see.

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